Utility Enel has signed a 15-year solar virtual power purchase agreement (VPPA) with bearing manufacturer SKF in Spain.
Through this deal, SKF will purchase guarantees of origin for the equivalent of a third of the company’s electricity consumption in Europe made in 2022 and will be provided by an upcoming solar plant from Enel.
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The solar plant is expected to generate 260GWh of electricity per year and will be connected to the grid by August 2024.
Joakim Landholm, chief sustainability officer and SVP at SKF, said: “This agreement is a critical step forward in our strategy. It also demonstrates our commitment to the cleantech industry and support for the growth of the renewable energy industry. This shows that we can make a real impact in achieving a sustainable future by working together with others.”